ESOPUS CREEK VALUE SERIES FUND LP - SERIES A

Director-level fund ESOPUS CREEK VALUE acquires 40,000 shares ($58.0K) at $1.45 avg, now underwater; NRDE stock -46.2% from 52-week high despite 90d timing pattern of 50% win rate.

ESOPUS CREEK VALUE SERIES FUND LP - SERIES A executed 2 separate purchases totaling 40,000 shares for $58,024.91, expanding holdings from 723,000 to 763,000 shares (+5.5%). The blended average purchase price of $1.45 is now above the current price of $1.34, reflecting a -46.2% decline from the 52-week high of $2.49. At NRDE specifically, the insider's prior 4 measurable trades show a 50% win rate at the 90-day mark: 2 buys generated positive 90-day returns (+14.7%, +9.8%) while 2 buys fell sharply (-32.6%, -30.1%). The timing pattern is mixed rather than demonstrative of predictive skill. The company's latest quarterly revenue was $2,151,000.00 with net income of $955,000.00, but full-year results were negative, and the stock has declined 7.6% over 30 days and 37.7% over 90 days. The purchases represent continued accumulation into a deteriorating price environment with no public justification disclosed in the form itself.

Director buy: 8,000 shares of NRDE at $1.45; stock down 49.0% from 52-week high; cluster pattern with 2 other insiders in 14 days

ESOPUS CREEK VALUE SERIES FUND LP - SERIES A (Director) purchased 8,000 shares at $1.45 on 2025-11-19 in open market, increasing holdings to 723,000 shares. The transaction occurs while the stock trades at $1.27, down 49.0% from its 52-week high of $2.49 and down 36.5% over 30 days. This purchase is part of a cluster pattern with 2 other insiders buying within the past 14 days. Examining the director's prior NRDE trades, of 5 previous buys, only 2 were followed by positive 90-day returns (both in April 2025 with +14.7% and +9.8%), while 3 earlier purchases in March 2024 each showed 90d declines of -24.4% to -32.6%. The cross-ticker track record shows an average 90d return of -12.5% with a 40% win rate. The company's fundamentals are mixed: latest quarter revenue of $2.2M with net income of $955.0K, but full-year net income was negative despite +1106.2% annual revenue growth. The combination of severe near-term price deterioration, mixed timing history at this specific ticker, and negative full-year profitability presents a routine insider purchase signal without strong conviction indicators.

Director fund buys 15,000 shares at $1.32 blended average; stock now at $1.25, -6.0% in 30 days; prior NRDE buys all negative at 90-day mark.

ESOPUS CREEK VALUE SERIES FUND LP - SERIES A (Director) executed 2 purchases totaling 15,000 shares for $19,836.75 at a blended average price of $1.32 on 2025-04-24 and 2025-04-25, expanding holdings from 700,000 to 715,000 shares. The current price is $1.25, down 6.0% over the prior 30 days and -37.5% from the 52-week high of $2.00. The director's prior trades at NRDE show a consistent pattern of poorly timed entries: 3 prior buys on this ticker (2024-03-14, 2024-03-15, 2024-03-18) all produced negative 90-day returns (-23.5%, -25.3%, -19.5% respectively), with 0 of 3 achieved positive outcomes at the 90-day mark. The company's fundamentals remain challenged: annual revenue growth of +1106.2% masks a modest latest-quarter revenue of $2,151,000.00, net income of $338,000.00 in the latest quarter, yet a full-year net income that was negative, and a market cap of only $20,120,370.00. This purchase aligns with a historical pattern of ill-timed entries by this insider at this specific ticker, warranting investor attention to execution timing risk.